Quarterly report pursuant to Section 13 or 15(d)

Organization and Summary of Significant Accounting Policies (Tables)

v3.21.1
Organization and Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Disaggregated Net Sales

The following table shows the Company’s disaggregated net sales by product type:

 

    Three months ended
March 31,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
DC power systems   $ 3,155     $ 2,713  
Engineering & Tech Support Services     28       76  
Accessories     107       71  
Total net sales   $ 3,290     $ 2,860  

 

The following table shows the Company’s disaggregated net sales by customer type:

 

    Three months ended
March 31,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
Telecom   $ 3,053     $ 2,717  
Government/Military     31       4  
Marine           1  
Other (backup DC power to various industries)     206       138  
Total net sales   $ 3,290     $ 2,860  

Schedule of Components of Inventories

As of March 31, 2021 and December 31, 2020, inventories consisted of the following:

 

   

March 31,

2021

(unaudited)

   

December 31,

2020

 
             
Raw materials   $ 5,326     $ 5,527  
Finished goods     3,228       3,567  
Total Inventories   $ 8,554     $ 9,094  
Schedule of Reconciliation of the Product Warranty Liability

The following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to the Company’s warranty coverage:

 

Changes in estimates for warranties  

March 31,

2021

(unaudited)

   

December 31,

2020

 
Balance at beginning of the period   $ 600     $ 375  
Payments     (408 )     (634 )
Provision for warranties     408       859  
Balance at end of the period   $ 600     $ 600  

Schedule of Diluted Earnings Per Share

The following potentially dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive:

 

   

March 31,

2021

(Unaudited)

   

March 31,

2020
(Unaudited)

 
Options     140,000       140,000  
Warrants     24,122       120,000  
Total     164,122       260,000